Related News
Home 禄 Business 禄 Manufacturing
China aims to promote M&As
By Wang Yanlin |
December 26, 2009, Saturday
|
Print Edition
Print Edition
CHINA will encourage mergers and acquisitions in the steel, non-ferrous metal, construction material, vehicle and shipbuilding industries next year to accelerate the reform of the industrial structure to boost efficiency and create market leaders.
It will also work to reduce obstacles and cut costs in cross-regional or cross-provincial M&As by coordinating with the Ministry of Finance, the Ministry of Land and Resources and the Ministry of Human Resources and Social Security, according to a statement on the Website of the Ministry of Industry and Information Technology.
"These industries are pivotal to China's manufacturing sector," said Li Maoyu, an analyst at Changjiang Securities Co. "The consolidation can greatly enhance their competitiveness and increase their influence on the global market."
Li Yizhong, the minister of industry and information technology, said a guideline to direct M&As in these industries will be announced soon.
One effective method to curb overcapacity is through M&As, and Li has urged steel makers in China to eliminate outdated capacity and refrain from expanding for the next three years to curb excessive production.
Shandong Iron and Steel Group is reported to be planning a significant asset restructuring by merging its listed units, Laiwu Steel Corp and Jinan Iron and Steel Co, into a single company. Its plan follows the merger by Hebei Iron and Steep Group of its three listed arms in September.
It will also work to reduce obstacles and cut costs in cross-regional or cross-provincial M&As by coordinating with the Ministry of Finance, the Ministry of Land and Resources and the Ministry of Human Resources and Social Security, according to a statement on the Website of the Ministry of Industry and Information Technology.
"These industries are pivotal to China's manufacturing sector," said Li Maoyu, an analyst at Changjiang Securities Co. "The consolidation can greatly enhance their competitiveness and increase their influence on the global market."
Li Yizhong, the minister of industry and information technology, said a guideline to direct M&As in these industries will be announced soon.
One effective method to curb overcapacity is through M&As, and Li has urged steel makers in China to eliminate outdated capacity and refrain from expanding for the next three years to curb excessive production.
Shandong Iron and Steel Group is reported to be planning a significant asset restructuring by merging its listed units, Laiwu Steel Corp and Jinan Iron and Steel Co, into a single company. Its plan follows the merger by Hebei Iron and Steep Group of its three listed arms in September.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
